China plans for its future with solar subsidies
CHINA - China said it will subsidize $2.93 per watt for solar-power projects that generate at least 50 kilowatts.
China, like all countries, faces an energy conundrum. As long as the world economy struggles, oil prices will stay low. After all, the recession popped the oil bubble.
Now that signs of a rebound are appearing around the globe, oil is rising. Already, crude has climbed 68% from its mid-December low. One gets the sense that oil prices may trace any economic healing.
Another surge in crude prices would threaten China's growth. The emerging giant, now the world's No. 3 economy, needs solid growth to provide jobs to its booming work force, as millions of rural folk seek factory jobs.
At the same time, China is the world's biggest coal burner and the biggest emitter of greenhouse gases. China is choking on its own pollution. Its need for a clean, secure and renewable energy source is painfully clear.
Solar-power stocks rallied on the news, with torrid gains for the China-based issues. Suntech Power Holdings, Yingli Green Energy, Trina Solar, ReneSola, Solarfun Power Holdings and JA Solar Holdings soared between 40% and 44%.
Solar stocks were, until the middle of 2008, the market's hottest.
But those leaders topped out well before crude hit its $147 peak, in July. Oil's crash only added to the rush to dump alternative fuel technologies such as solar stocks.
Like most of history's great leaders, their downfall was harsh.
Even after the huge gains, many of these stocks are trading in single digits, more than 80% off their highs.
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Coronavirus impacts dismantling of Germany's Philippsburg nuclear plant
BERLIN - German energy company EnBW said the coronavirus outbreak has impacted plans to dismantle its Philippsburg nuclear power plant in Baden-Wurttemberg, southwest Germany.
The controlled detonation of Phillipsburg's cooling towers will now take place in mid-May at the earliest.
However, EnBW said the exact demolition date depends on many factors - including the further development in the coronavirus pandemic.
Philippsburg 2, a 1402MWe pressurised water reactor unit permanently shut down on 31 December 2019.
At the end of 2019, the Ministry of the Environment gave basic approval for decommissioning and dismantling of unit 2 of the Philippsburg nuclear power plant, inluding explosive demolition…